Wednesday, January 26, 2011

GreenBkk.com Formula 1 | Williams considering stock market flotation

Group Lotus also bullish ahead of full trial

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Group Lotus is also confident it will win the upcoming court battle over the use of the Lotus name in Formula One and played down Team Lotus' claim that its application for a summary judgement was "thrown out".

The two sides met at London's High Court on Monday for an initial hearing, where Mr Justice Peter Smith scheduled a full trial for March 21. Team Lotus issued a press release in the evening saying: "Team Lotus is delighted that we were successful at the summary judgment application hearing today and that the judge threw out Group Lotus' application even before hearing the arguments of the barristers on either side."

However, Group Lotus does not believe the judge "threw out" its summary judgement and is confident it will win the case when it comes to a full trial in March.

"Group Lotus and Proton are delighted with the outcome of yesterday's hearing in which the judge ordered a full trial of this matter to be heard as soon as possible given the proximity of the start of the new 2011 Formula One season in a few weeks," read the Group Lotus statement. "The trial has been fixed at the English High Court for 21 March 2011.

"Group Lotus and Proton have been made aware of the press release issued by 1Malaysia Racing Team (1MRT), it is completely incorrect and a misrepresentation of the judge's decision suggesting that Group Lotus' application was "thrown out". No decision was made on Group Lotus' application. The judge proposed that the better procedural route was to order a speedy trial of all the issues in dispute in the case. 1MRT initially resisted the judge's approach to resolve all matters quickly and before the start of the 2011 Formula One season but the order was subsequently made and the first available date was 21 March.

"Group Lotus and Proton have always held the view that this matter should be resolved as soon as possible in the interests of Formula One and the fans. We therefore welcome this decision and look forward to the full trial. We are confident that at the trial Group Lotus will succeed in preventing 1MRT, Mr Fernandes and his companies, from using the Lotus name in Formula One once and for all."

Credit: ESPN F1 (espn.com)


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